SBI Holdings Denies Filing for Bitcoin-XRP Dual Crypto ETF
SBI Holdings, a major corporate player in Japan and a key partner of Ripple, has denied recent reports about filing for a Bitcoin-XRP dual crypto exchange-traded fund (ETF).
Key Points
- Reports indicated SBI submitted applications for a dual Bitcoin and XRP ETF, alongside a dual gold and crypto ETF.
- An SBI representative clarified that the ETF is still in the planning stage and no applications have been filed.
- SBI is awaiting regulatory updates from Japan's Financial Services Agency regarding the classification of crypto assets as financial products.
- The firm plans to submit ETF filings after legal revisions align with regulatory responses.
- Japan has not yet launched its first crypto ETF, despite being a historically crypto-friendly nation.
- SBI Global Asset Management will handle the application, targeting individual investors initially.
Regulatory discussions continue, influencing the timeline for potential ETF submissions.